ORGANIZATIONS BOOST CUSTOMER ENGAGEMENT

THE TRUST ADVANTAGE:

BY LEVERAGING CONSUMERS’ TRUST

AND THEIR CONFIDENCE IN SHARING THEIR DATA

ANTOINE MEGGLÉ, 2016

THE IDEA,IN BRIEF

User experience is the new competitive factor. Companies thrive by providing the right experiences to their customers. In order to achieve that purpose, companies must to collect personal data which consumers consider as precious.

By empowering their customers as identity managers (i.e. helping them manage their personal data) companies boost consumers’ confidence to share more date and reduce the cost of data acquisition in CRM and Analytics stacks.

THE CHALLENGE

THE SOLUTION

THE IMPACT OF TRUS

TIN CUSTOMER ENGAGEMENT

CUSTOMER ENGAGEMENT: THE PURPOSE

THE RIGHT EXPERIENCE

PROVIDE

*Source : Control Shift

AT THE RIGHT MOMENTTO THE RIGHT

PERSON

User experience is the new differentiation factor for competition: How to provide the right experience at the right moment is key. Ownership models are replaced with “product as a service” business models or product-sharing services. Customers are all the more capricious on the value delivered by data-driven companies than these new business models reduce the cost of switching value providers.

THE POWER GOES TO THE BUYER

COLLECT PERSONAL DATA TO CREATE VALUE: THE CHALLENGE

THE VALUE

$1 TRILLION,

OF PERSONAL DATAIN EUROPE IN 2020*

*Source : WSJ

As consumers become more aware of the value that data […], they will become more […] demanding participants in decisions about what data is collected, how it is used, and who benefits.” (Michael Porter, HBR). In most countries, individuals want to shape easy ways to shape the use of their personal data. Generating trust can increase access to consumer data by at least five time. (BCG, Privacy by the numbers)

CONSUMERS ARE AWARE OF THE VALUE OF THEIR IDENTITY

HELP CUSTOMERS MANAGE THEIR IDENTITY: THE DISRUPTION

*Source : WSJ

Consumer are in the dark: They are aware that their data are collected but they don’t know for which purpose. 2 individuals out of 3 don’t trust their providers regarding data usage (HBR).Consumers face complexity: Individuals share personal data with an average of 60 digitalized suppliers in order to manager their lifes: Home, finance and money, health, family, citizenship, etc. (ControlShift, UK)

YET CONSUMERS ARE IN THE DARK

WORK

HOME

SOCIAL

MONEY

HEALTHFAMILY

FRIENDS

HOBBIES

BANK ACCOUNT

CREDITS

SOCIAL

DOCTOR

SOCIAL

BILLS

ADDRESS

SPOUSE

CHILDREN

CITIZENSHIP

EMPLOYER

TRUST REDUCES THE COSTS OF DATA ACQUISITION

INCREASING ACCESS TO

THE REWARD OF TRUST :

*Source : BCG

PERSONAL DATA BY A LEAST 5

TIMES*

AVOID THE IMPACT OF DATA MISUSEWhen consumers are badly surprised upon learning that data about them has been collected or that it has been used in unautorized ways.

The cost of crossing the line for businesses: “5% to 8% loss of total company revenues in the first year dropping to a 3% to 5% loss in year two.” (BCG)

The Regulation mandates new penalties: Breached organizations can expect fines of up to 4% of annual global turnover (not profit) or €20 million.

Start your privacy risk assessement: user consent, data portability, breach report capabilities. Appoint a Digital Privacy Officer: Your company needs to comply for May 2018.

EU GDPR COMES INTO FORCE IN 2018

CHOOSE THE RIGHT CAPABILITIES

AND INCREASE ACCESS TO DATA

TO BOOST CONSUMER TRUST

CUSTOMER ENGAGEMENT VOYAGE: THE ROLE OF IDENTITY

*Source : BCG/WSJ

Value creationwith personal data

Customerempowermentas data manager

CONNECT COLLECT SHARE1 2 3

Customer engagement is a 3-step ride. For each of this steps, identity management plays out a specific role in boosting trust between consumers and providers. Let’s explore the steps.

CUSTOMER ENGAGEMENT VOYAGE

*Source : BCG/WSJ

Value creationwith personal data

Customerempowermentas data manager

CONNECT COLLECT SHARE1 2 3

Create basic digital product experience.

Provide seamless buying experience across channels.

Leverage data internally to extract insight.

Deliver new products and services and propose personalized experiences.

Share the data with the business ecosystem.

Help customers build their own experiences, manage their lifes in a global portfolio of services.

CUSTOMER ENGAGEMENT VOYAGE

*Source : BCG/WSJ

Value creationwith personal data

Customerempowermentas data manager

CONNECT COLLECT SHARE1 2 3

Create basic digital product experience.

Provide seamless buying experience across channels.

Leverage data internally to extract insight.

Deliver new products and services and propose personalized experiences.

Share the data with the ecosystem.

Help customers build their own experiences, manage their lifes in a global portfolio of services.

Manage customer acquisition lifecycle and provide seamless buying experiences.

Empower consumers to perform transactions autonomously more efficiently.

CRM, cognitive services, bots.

Share and enrich the customer directory across the organization.

Use new and combined data sources, leveraged by big data analytics capacities.

CRM, cognitive services, bots.Data insight, machine learning, social listening.

Share and enrich the customer directory across the ecosystem of partners.

Use new and combined data sources, leveraged by big data analytics capacities

CRM, cognitive services, bots.Data insight, machine learning, social listening.

Classiccustomer engagement activities

Technologysatcks

CUSTOMER ENGAGEMENT VOYAGE: THE ROLE OF IDENTITY

*Source : BCG/WSJ

Value creationwith personal data

Customerempowermentas data manager

CONNECT COLLECT SHARE1 2 3

Create basic digital product experience.

Provide seamless buying experience across channels.

Manage lifecycle of identity (anonymous, pseudonymous, known) and securely authenticate users.

Automate processes as users do not have to identify themselves and preferences are known.

Identity provider, identity vetting, identity proofing.

Manage consumer awareness on the usage of data (concern, awareness, control).

Provide easy ways to shape the use of their data.

Protect identities as key assets.

Identity provider, identity vetting, identity proofing. Identity protection. Consent management.

Empower customer as data managers: Help customers gather, collect, protect and store their data.

Provide customers easy means to share data with the ecosystem.

Identity provider, identity vetting, identity proofing. Identity protection. Consent management.

Identity managementactivities

Technologysatcks

Leverage data internally to extract insight.

Deliver new products and services and propose personalized experiences.

Share the data with the ecosystem.

Help customers build their own experiences, manage their lifes in a global portfolio of services.

START YOUR JOURNEY: EMPOW

ERCUSTOMERS AS DATA MANAGERS

What is your data strategy? What kind of data to collect?

For which purpose do you aim at collecting data?

What is your data acquisition strategy?

How much your customers value their data?

What is the impact of EU GDPR on your business needs? Any other regulatory compliance?

GOVERNMENT IDENTIFICATION, HEALTH DATA, WEB SEARCH HISTORY, SOCIAL PROFILE, ENERGY USE, FINANCIALS, ETC.

START YOUR JOURNEY

DESIGN 1

Design your customer data stewardship strategy, in alignement with your business strategy and your privacy requirements.

IMPROVE A PRODUCT/SERVICE, TARGETED MARKETING, SHARE WITH THIRD PARTIES (ANONYMIZED OR NOT), ETC

IOT, BUY DATA FROM THIRD PARTIES, LEVERAGE INTERNAL DATABASES, ETC.

HIGH/LOW, CONCERN/AWARE/IN CONTROL, ETC.

DATA PORTABILITY, USER CONSENT, DATA LOCATION, ETC.

HOT TOPICS

EXPERIMENT 2

Experiment the impact of your customer data stewardship strategy. How far customers reward you with their data?

What ought to be the prevalent methods of data collection to create value?

What is the involvement of the user during the data collection process?

How can you help customers gather, store, protect and share their identities?

How can you embed “privacy by design” mechanisms in the product/service experience you offer to your customers ?

START YOUR JOURNEY

IterateDESIGN

1

Design your customer data stewardship strategy, in alignement with your business strategy and your customer concerns.

What is your data strategy? What kind of data to collect?

For which purpose do you aim at collecting data?

What is your data acquisition strategy?

How much your customers value their data?

What is the impact of EU GDPR on your business needs? Any other regulatory compliance?

STRUCTURED/UNSTRUCTURED, CONTEXTUAL, MINED, ETC.

IDENTITY STORAGE AND PROTECTION, ANALYTICS, ETC.

CONSENT MANAGEMENT, INFORMATION PULLING, ETC.

SELF-REPORTED, DIGITAL EXHAUST, PROFILING DATA, ETC.

HOT TOPICS

START YOUR JOURNEY

DESIGN 1

Design your data stewardship strategy, in alignment with your business strategy and your customer concerns.

EXPERIMENT 2

Experiment the impact of your customer data stewardship strategy. How far customers reward you with their data?

TRANSFORM2

Act as a trusted partner for your customers, helping them manage their data and their lifes.

Empower your customers as their own data managers: Help them gather, store, protect and share their identities.

Act as a life management platform with your ecosystem: Help your customers manage their lifes, build the experiences they desire and share the data for the purposes they decide with your ecosystem.

What ought to be the prevalent methods of data collection to create value?

What is the involvement of the user during the data collection process?

How can you help customers gather, store, protect and share their identities?

How can you embed “privacy by design” mechanisms in the product/service experience you offer to your customers ?

What is your data strategy? What kind of data to collect?

For which purpose do you aim at collecting data?

What is your data acquisition strategy?

How much your customers value their data?

What is the impact of EU GDPR on your business needs? Any other regulatory compliance?

ANTOINE MEGGLÉ, 2016